Finance minister warns of increasing deficit up to 11%
The Source: www.sabanews.net - 12/2/2009
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Minister of Finance Noman al-Sohibi warned on Wednesday of increasing a
deficit of the 2009 state budget up to 11 percent due to ineffective
implementation for decision of decreasing expenditure.
In the
opening session of the annual meeting for the directors of the
ministry, al-Sohibi affirmed importance of clarifying for employees
that decision was taken to reduce unimportant expenditures, not to
target their rights.
He called on representatives of the
ministry in different government bodies to help directors of these
bodies to re-organize their budget correctly.
The
implementation of the decision during the previous period was unfair
and ineffective as employees receive 500 rails as overtime and
subjected for deduction of 50 percent in time there are employees who
receive 700,000 rails as extra wages and no deduction, the minister
said.
He also pointed out to the reality of the national
economy - within negative impacts of the financial crisis- reflected
negativity on the budget of the state, saying that requires from
officials of the ministry to collect revenues and follow up shares of
the government in any corporation.
The two-day meeting would
discuss several papers over the economic developments in the world due
to the financial crisis and its impacts on implementation of the
country's budget as well as strategy of reforming financial
administration.
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